Mark Ventura has just purchased an annuity to begin payment at the end of 2016 (that is the date of the first payment) Assume it is now the beginning of the year 2014 The annuity is for $8,000 per year and is designed to last 10 years If the interest rate for this problem calculation is 13 percent,...

N IY PV PMT FV 10 13 CPT PV 4340995 8000 0 4340995 as of the end of y ...

Mark Ventura has just purchased an annuity to begin payment at the end of 2016 (that is

Question:

Mark Ventura has just purchased an to begin payment at the end of 2016 (that is the date of the first payment). Assume it is now the beginning of the year 2014. The is for $8,000 per year and is designed to last 10 years. If the interest rate for this problem calculation is 13 percent, what is the most he should have paid for the Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...